Major loan funds Syria telecom expansion

Dec 19, 2005

An international loan agreement worth nearly $120 million will help Syria expand telecom services into the country's rural regions.

The Facility for Euro-Mediterranean Investment and Partnership Monday announced the 100 million euro loan for the extension of fixed-line telephone service to an estimated 430,000 new customers in 4,300 villages.

FEMIP said in a news release that the Syrian Telecommunications Establishment would oversee the project, which is the first FEMIP project in the Mediterranean region's telecom industry. The FEMIP serves as an interface between the Med and the European Investment Bank.

"The Syrian telecom sector as a whole also stands at a turning point in its development, as witnessed by the current preparation of a new telecom sector law, which I trust will be adopted next year by the Syrian authorities," said FEMIB official Philippe de Fontaine Vive. "The EIB will closely follow the economic reform process of the Syrian telecom sector, given the huge potential the sector has to stimulate economic growth in Syria and attract private sector investment from abroad."

Copyright 2005 by United Press International

Explore further: Google, Facebook update contrasting plans to connect world

add to favorites email to friend print save as pdf

Related Stories

Evolving robot brains

6 hours ago

Researchers are using the principles of Darwinian evolution to develop robot brains that can navigate mazes, identify and catch falling objects, and work as a group to determine in which order they should ...

Facebook fends off telecom firms' complaints

6 hours ago

Facebook founder Mark Zuckerberg fended off complaints on Monday that the hugely popular social network was getting a free ride out of telecom operators who host its service on smartphones.

Scientists find clues to cancer drug failure

6 hours ago

Cancer patients fear the possibility that one day their cells might start rendering many different chemotherapy regimens ineffective. This phenomenon, called multidrug resistance, leads to tumors that defy ...

Glass coating improves battery performance

6 hours ago

Lithium-sulfur batteries have been a hot topic in battery research because of their ability to produce up to 10 times more energy than conventional batteries, which means they hold great promise for applications ...

Recommended for you

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.